Knowledge quiz

It's time to put what you've learned to the test, get 5 right to pass this unit.

1.

The account balance represents the difference between the total debit transactions and the total credit transactions

Choose the correct answer.
2.

Assets, Expenses, and Drawings accounts are generally in credit.

Choose the correct answer.
3.

A journal entry must be balanced

Choose the correct answer.
4.

An invoice always creates a journal entry

Choose the correct answer.
5.

Which type of account reflects business partner transactions in the chart of accounts?

Choose the correct answer.
6.

Credit transactions always increase the liability

Choose the correct answer.

Learning

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